The legislation passed 97 to 2 with Republican Sens.
"With 20,000 claims now awaiting consideration, and more certain to be filed in the months and years ahead, today's action ensures that the VCF can continue in its successful effort to compensate every deserving individual impacted by the tragic events of September 11", Attorney General William Barr said in statement using an acronym to refer to the fund.
Trump took a moment from his speech to respond to a recent incident at the California Garlic Festival, where three people were shot and killed.
The president celebrated the first responders for their service in the single deadliest terror attack in USA history while signing the bill that effectively makes the victims compensation fund permanent.
"We will continue to work together as communities ... to stop evil", Trump said.
Donald Trump signed the September 11 Victim Compensation Fund on Monday at the White House Rose Garden while reminding first responders that he was also in New York City at the time of the historic terror attacks.
"To every 9/11 hero, you poured out your heart, your sweat, your soul and everything you had for your country", he said. "Today, we strive to fulfill our sacred duty to you".
The bill extends permanent benefits for the 9/11 victims and heroes suffering from the aftermath of the attacks.
First responders who rushed to the site of the World Trade Center's twin towers in NY following their destruction in the September 11 hijacked plane attacks, and others who worked for months cleaning up, were exposed to toxic chemicals despite early government statements that the site was safe. "Selfless patriots of unmatched character and devotion". Trump said that he recalled spending time with first responders near Ground Zero after the Twin Towers fell. He asked them to stand, to ringing applause.
"Our whole nation prays and pays tribute to the incredible life and legacy of Detective Alvarez-how hard he worked and how much he suffered", Trump said.
Mr. Trump signed the bill reauthorizing $10.2 billion over the next 10 years for the compensation fund.
And as the House and Senate prepared to vote on the measure, new White House Press Secretary Stephanie Grisham opted against issuing an official statement stating definitively that Trump would sign it into law.